For the fifth consecutive year, the Goldenwest Credit Union Board of Directors has announced that members will earn a bonus dividend. The credit union will pay an 8.00% Annual Percentage Yield on shares for the month of December.
“We declared the bonus dividend in gratitude to our members for their loyalty to the credit union during the last year,” said Jess Hunsaker, Chairman of the Board. “The tremendous support we received from our members combined with the credit union’s financial strength has allowed us to continue our tradition of declaring a year-end bonus dividend.”
The bonus dividend is just one of the many ways that Goldenwest provides a high return to members throughout the year.
“Our members are our most important asset,” said Shelley Clarke, President and Chief Executive Officer. “As a not-for-profit financial cooperative, we consider what is best for the credit union’s member-owners in every decision that we make. Our ongoing success includes proven business strategies for growth and avoiding precarious market opportunities such as subprime lending.”
“Goldenwest’s growth will continue in a responsible manner,” continued Clarke. “Giving our members a high return on their investments in a secure environment will remain a top priority in 2009.”
Credit union members will earn more than $675,000 with this year’s bonus dividend. During the last five years, Goldenwest has returned more than $2.5 million to members through the bonus dividend program. The bonus dividend is paid on primary share accounts, secondary share accounts, Christmas Club share accounts, and IRA share accounts.
Paid for the month of December, a 7.20% APY bonus dividend is based on the average daily balance of shares during 2008. The bonus dividend is in addition to the 0.80% APY monthly dividend. Members will receive the total dividend of 8.00% APY on December 31, 2008.
Founded in 1936, Goldenwest is the third-largest credit union in Utah, serving more than 72,000 members, holding $652,000 million in assets, and operating 17 branch offices throughout the state.
